Pi Coin Near $0.40 After 300M Token Unlock for BTC Rally
Pi Coin (PI) don down reach im all-time low near $0.40 after di protocol unlock over 300 million new tokens between July 4–15, way boost exchange reserves by over 100 million PI and show say institutional sell pressure dey. For di past two weeks, Pi Coin fall 26.4% come dey trade near $0.465, e no follow major market gains as Bitcoin rally up reach $118,000 and Ethereum don reclaim $3,000. On-chain activity still calm even though 500,000 user don migrate to mainnet and 137 Ventures dey support am. Technically, Pi Coin dey trade inside one descending channel, with RSI at 55.5, MACD na bearish, volume dey fall, and key support dey $0.40–$0.35. Resistance dey for $0.53, $0.60, plus higher targets like $0.98–$1.67. If e fit breakout above di channel, e fit change di trend, but short-term downside go near $0.35 no be surprise. Mid-term recovery dey depend on dApp adoption through Pi App Studio, identity tools plus staking features.
Bearish
Di kombined development dey show say Pi Coin fit go down. Dem unlock over 300 million tokens plus price drop of 26.4% show say sellers plenty and supply shock too. Even though Bitcoin don jump reach $118,000 and Ethereum rally pass $3,000, Pi Coin comot from the general market, e show negative correlation and low on-chain activity. Technical indicators too dey confirm say trend na down: Pi Coin still dey for downward channel with volume dey fall, bearish MACD crossover, and RSI no show say people wan buy well. Short-term support na between $0.40–$0.35, under current level, suggest say price fit still fall. If e fit break resistance level, e fit change how people feel, but recovery go depend on whether dApp adoption, identity tool rollout, and staking features fit work well, and these ones na long-term catalysts.